GTBank Loans in Nigeria
GTBank is well known for being one of the largest Financial Institutions in Nigeria. Its excellent banking services provide solutions for both personal and business needs.
It also provides good customer services for millions of customers in the country. Notable to many, Loan rendition is among the numerous services offered by GTBank, which millions of Nigerians have benefited from.
This article states the different types of loans available in GTBank and how to get loans from GTBank.
What are the obtainable loan services with GTBank, and how can a customer apply for it?
GTBank loan schemes differ according to customers’ needs. Here are the various types of loan services available with GTBank:
1. GT Salary Advance:
This loan scheme is only open for private company employees and government workers whose salary account is with GTBank. This loan scheme offers 50% of your monthly salary for rainy days. Here, collaterals are not required, and salary advances are made available within 24 hours of application.
How to Apply:
The application can be done in 3 ways, they are:
Application using the internet banking system
Application via GTBank loan code-*737*8*2#
Application by visiting any GTBank branch or ATM near you.
2. GTBank School Fees Advance (GTBank Student Loan):
This is a GTBank loan package created for parents to enable school fees payment for their ward/child. One of the fundamental requirements in this package is, that a parent/guardian must be a staff of a reputable public or private organization whose salary account is with GTBank. Also, the said institution must be in Nigeria.
How to Apply:
- Submit a complete application form and an Employer Undertaking form
- Evidence of school fees bills and Credit Insurance
- Ensure your staff terminal benefits are domiciled in GTBank.
3. GTB Quick Credit Loan:
This scheme provides financial solutions to the needs of self-employed and salary earners. It’s a GTBank loan package that gives instant cash for self-employed and salary earners, and they pay back in a period of 6-12 months at an interest rate of 1.33%. Hence, get the cash you need immediately and pay it back later.
How to Apply:
- Use the quick credit GTBank loan code- *737*51*51#
- Use any of the GTBank Online and mobile banking platforms
4. GTBank Max Advance Loan:
This is a type of GTBank loan package that is available only for selected individuals. This loan package offers personal loans to the staff of some corporate and government Organizations. To be a beneficiary, you must have a salary account with GTBank.
How to Apply:
Visit their official website at https://www.gtbank.com/personal-banking/loans/maxadvance to get the form.
5. GTBank Max Plus:
This loan package is also open for platinum GTBank customers whose salary account is domiciled with GTBank. It provides a larger loan facility and a suitable payback plan.
How to Apply:
- Open this link to access their official website, http://www.gtbank.com/personal-banking/loans/maxplus.
- Download the Max Plus App form and Employee undertaking form
- Submit upon filling it to the bank customer care.
6. Computer Acquisition Scheme:
This package is uniquely positioned for serving Corp Members whose allowance account is with GTBank to finance the acquisition of mobile devices during the serving year. Here, loan repayment must be completed within the service year.
How to Apply:
- Complete and submit an application form
- Submit an Employer Undertaking form
- Show proof of your domicile account of NYSC allowance with the Bank
7. GTBank Mortgage:
This Loan is designed for customers who desire to purchase a property by providing the funds for it. To qualify for application, your salary account or business documents must be domiciled with GTBank.
To apply, submit the following:
- Completed Application Form
- Title Document of property
- Offer letter to sell property from Vendor
- Valuation Report from any of the Banks approved estate Valuer
- Search report from GTBank Legal Group
8. GTBank Premium Advance:
This is an overdraft loan package, that places debt on your debit naira MasterCard. It helps out during unforeseen Circumstances. However, there are certain requirements that need to be met before applying for this package, as it is not open to everyone.
- Download the application form from their official website at http://www.gtbank.com/personal-banking/loans/premium-advance.
- Fill out and submit the form at any branch of the bank.
9. GTBank Travel Advance:
As the name implies, GTBank Travel Advance loan provides loans for customers to meet their traveling expenses. It’s open for individuals whose salary account is with GTBank. This loan is used for the following travelling expenses:
Airport pickup and transfer
Tour and events.
Method of Application:
- Log in to Internet Banking
- Click travel Advance under-investment and Quick Loans
- Select Travel Advance and Initiate a New request
- Fill in the required details
- Authorize your request by inputting the 6 digits on your token and submit.
10. GTBank Vehicle Insurance Premium Financing:
This loan package enables customers to pay for their car insurance premiums upfront. It’s open for corporate organizations and salary earners whose salary account is with GTBank. The duration for Repayment is 12 months period.
How to Apply:
Visit their official website and follow the instructions according.
11. GTBank Loan Calculator:
This is a GTBank web calculator that helps a customer/borrower calculate how much a loan payment will be, depending on the type of loan that was issued and its interest rate.
To use the GTBank loan Calculator, Input loan information (Amount, interest rate, period of repayment). With the aforementioned information, Loan Calculator will help compute loan monthly payments, total payments, and total interest payments.
However, Loan Calculator help in loan decision-making as it makes customers aware of the loan type suitable for them.
Frequently asked questions:
Here are some of the frequently asked questions about GTBank Loan Services.
What happens if I am not able to pay back at the right time?
Answer: The consequences for not paying back loans allocated have been clearly stated in the loan’s terms and conditions brochure and will be implemented if necessary. In some cases, lenders either increase the interest rate or sell off collateral.
However, with the flexible repayment structure offered by loanspotafrica, forceful repayment actions are unnecessary, as it is structured to ensure customers almost never miss their loan payment deadline.
How long will it take to receive the money after applying?
Answer: The time frame solely depends on your Lender. Some lenders take a longer time to approve loans, while others like loanspotafrica offer the fastest loan disbursement services.
How much will be deducted from my salary as loan payback?
Answer: This also depends on your Lender. Some Lenders issue loans to borrowers based on their salary rate, in order for them to be able to pay back when it’s due. For huge loans, lenders usually want borrowers with a high-income rate or collateral.
However, with loanspotafrica, borrowers do not need to worry about their salary rate, as there’s an offer for everyone including individuals without any source of Income.
What are the frequently asked questions when applying for a loan?
Answer: Most lenders are typically interested in your current financial status if you own an asset that can be used as collateral (when needed). Your response to these questions will determine whether your loan request will be granted. These responses also give the lender insight into your ability to pay back.
Nevertheless, Modern Lenders like loanspotafrica are only interested in getting the loan to you as soon as possible. Hence, their questions are often nominal.
Conclusively, GTBank offers different Loan Schemes to satisfy all its customers. There’s always something for everyone: higher and lower class, Salary earner and the unemployed, students are equally not left out in GTBank loan schemes. You can be a beneficiary of this great opportunity by becoming a GTBank customer today.
GTBank, We’re reliable, what we say is what we do; Trust us to always do what is right. We care, we believe in building and sharing for the good of all!!!